300 N 9th St · Petersburg, IN 47567

$79,900

2 bd · 2.0 ba · 2,664 sqft · SingleFamily public records · 174 Days on market

Built 1987 4,792 sqft lot $30/sqft · 56% below area

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for an investment? This would make a great income producing Duplex. Home has 2 beds and 1 bath on first section of the home. Additionally there is an another unit that could be converted into a 3 bed 1 bath unit as well. Currently is set up for an office space and bedroom. 2 parking locations and plenty of opportunities. Back of home also could be turned back into storage or garage space. Plenty of options with this one.

Key facts

• Office space
• Parking locations
• Spacious home

Tags

• SPACIOUS HOME
• OFFICE SPACE
• STORAGE OR GARAGE SPACE
• PARKING LOCATIONS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#231 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Pike County School Corporation (rural): math 29% / reading 39% proficiency, ranked #203 of 301 in IN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 active listings in the ZIP; 7 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Pike County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.54% ✓
• Cap rate: 12.58%
• Cash-on-cash: 22.47%
• DSCR: 2.00
• GRM: 5.4

CMA / ARV

• ARV (median comp): $182,152
• List price: $79,900
• Delta: -56.14%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 1.61×
• Total profit: $13,753
• Equity at exit: $11,913

10-year hold

• IRR: 24.0%
• Equity multiple: 3.07×
• Total profit: $46,412
• Equity at exit: $6,908

Cash invested: $22,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 47567

• Home prices YoY: -5.7%
• Active inventory: 28
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,232 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$102 /mo · $1,222/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $419

Break-even live

Break-even rent $701

Max offer price $79,900

Occupancy floor 61%

Sensitivity live

Price	-10% $464	-5% $442	+0% $419	+5% $396	+10% $374
Rent	-10% $322	-5% $370	+0% $419	+5% $468	+10% $516
Rate	-1.0pp $459	-0.5pp $439	base $419	+0.5pp $398	+1.0pp $377

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-09
   days on market $79,900 Active 174 DOM
2. 2026-06-08
   days on market $79,900 Active 173 DOM
3. 2026-06-07
   days on market $79,900 Active 172 DOM
4. 2026-06-07
   days on market $79,900 Active 171 DOM
5. 2026-06-04
   days on market $79,900 Active 168 DOM
6. 2026-06-02
   days on market $79,900 Active 167 DOM
7. 2026-06-01
   days on market $79,900 Active 166 DOM
8. 2026-05-31
   days on market $79,900 Active 165 DOM
9. 2026-05-31
   days on market $79,900 Active 164 DOM
10. 2026-01-19
    price $79,900 432-char remark

    Show marketing remark (432 chars)

    Looking for an investment? This would make a great income producing Duplex. Home has 2 beds and 1 bath on first section of the home. Additionally there is an another unit that could be converted into a 3 bed 1 bath unit as well. Currently is set up for an office space and bedroom. 2 parking locations and plenty of opportunities. Back of home also could be turned back into storage or garage space. Plenty of options with this one.

11. 2025-12-16
    listed $84,900 Active 432-char remark

    Show marketing remark (432 chars)

    Looking for an investment? This would make a great income producing Duplex. Home has 2 beds and 1 bath on first section of the home. Additionally there is an another unit that could be converted into a 3 bed 1 bath unit as well. Currently is set up for an office space and bedroom. 2 parking locations and plenty of opportunities. Back of home also could be turned back into storage or garage space. Plenty of options with this one.

12. 2016-12-28
    soldstatus $62,700 91-char remark

    Show marketing remark (91 chars)

    Three bedroom, two bath home. Convenient location and two blocks down from the Court House.

13. 2016-10-08
    listed $62,700 91-char remark

    Show marketing remark (91 chars)

    Three bedroom, two bath home. Convenient location and two blocks down from the Court House.

14. 2009-08-26
    soldstatus $30,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,222 · $102/mo
• Projected year-2 tax: $1,222 · $102/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,780
• − Mortgage interest: −$4,476
• − Property taxes: −$1,222
• − Insurance: −$400
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$2,324
• Taxable income: $3,994
• Est. tax owed @ 24.0%: −$959
• After-tax cash flow: $4,068/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Pike County School Corporation
• NCES district ID: 1808900
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $43,646
• Composite: 28.88/100
• National rank: #6642
• State rank: #203 of 301 in IN

Livability — Petersburg

• Score: 68/100
• State rank: #231
• US rank: #9979

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment C+ Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petersburg, IN
• Population (ZIP): 6,187

Population outlook (Pike County) Hauer SSP2

• Today (2025): 11,816 people
• By 2030: 11,348 · -4.0%
• By 2040: 10,351 · -12.4%
• By 2050: 9,410 · -20.4%
• By 2075: 7,638 · -35.4%
• By 2100: 6,118 · -48.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Native American 2% Two or more races 1%
• Common ancestry: Slovak 3% Portuguese 2% Serbian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Pike

• 2024 margin: Solid R (+54.9) · D 21.9% · R 76.7% · Other 1.4%
• 2008→2024 swing: -46.2pp toward R · 2008: -8.6pp · 2024: -54.9pp
• All cycles: 2024: R+54.9 2020: R+52.7 2016: R+51.9 2012: R+25.4 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.97%
• Current HPI: 216.028
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+166.3% since first listed

5 events — show timeline

• 2026-01-19 Price Changed $79,900 IRMLS
• 2025-12-16 Listed $84,900 IRMLS
• 2016-12-28 Sold (MLS) $62,700 IRMLS
• 2016-10-08 Listed $62,700 IRMLS
• 2009-08-26 Sold (Public Records) $30,000 Public Records

Property tax history

+6.7%/yr

Latest (2024): $1,222 · +0.1% YoY. Source: county tax records.